PRACTICAL GUIDE

I am renting a home. What protection should I review?

Landlords and tenants have different needs. Start by separating the building, each person’s belongings and responsibilities under the tenancy agreement.

1. Record the home’s condition when the keys are handed over, with photographs and an inventory of included belongings.
2. Check who insures the building and contents. The tenant’s personal belongings are not automatically covered by the landlord’s policy.
3. Review third-party liability and the declared use of the property. Report relevant changes to your agent or insurer.
4. If you need rent payment protection, check the triggering events and limits. The insurer’s solution provides for events such as the tenant’s unemployment, temporary incapacity or hospitalisation.

Rent protection does not mean cover for every missed payment. Review the tenant’s eligibility and how the product works.

Prepare: tenancy agreement, rent amount, inventory and existing policies.